Sam Boughedda

Investing.com — Datto Holding Corp (NYSE:) announced on Monday that it has agreed to be acquired by Kaseya, sending its shares up 20%.

Kaseya will be paying $35.50 for each share of cybersecurity company Datto. The deal values the company at $6.2 billion. This is a 52% premium compared to Datto’s stock price of $23.37 on March 16th.

Insight Partners will finance the acquisition. It will be all cash. TPG Capital as well as Temasek are expected to make a major investment.

“Combining with Kaseya brings together a broader array of technology products to create additional opportunities for MSPs,” said Tim Weller, CEO of Datto. 

”I’m encouraged by the continued investment in the rapidly-expanding global MSP community, and this transaction is another important validation of the channel.”

This deal should close during the second half 2022.